21 Feb 2022
1. ) PNL Capital Sdn Bhd 2. ) PNL Business Services Sdn Bhd 3. ) PNL Trading Sdn Bhd 4. ) Subang Industry Park Sdn Bhd 5. ) Tian An Trading Sdn Bhd 1. ) LOH TECK WAH 2. ) Fintree Capital Sdn Bhd 3. ) Kang Mooi Chin
- Citation
- W-02(A)-1230-06/2021 (Mahkamah Rayuan)
- Court
- A
- Case number
- W-02(A)-1230-06/2021 (Mahkamah Rayuan)
The Court of Appeal allowed the appeals and set aside the ex-parte IJM order and subsequent JMO because the applicant's motive was tainted by an overriding personal and proprietary interest arising from an ongoing shareholders' dispute; the evidence did not satisfy the statutory insolvency requirement under s.405(1)(a) (contingent assets were not accounted for) and there was material non-disclosure in the ex-parte application; appointment of a JM was an abuse of process in the circumstances.